Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the accompanying Schedules are reported on the accrual basis of
accounting. Such expenditures are recognized following the cost principles contained in
Uniform Guidance, and “frequently asked questions” (“FAQs”) and other guidance issued
by the U.S. Department of the Treasury and Texas Grant Management Standards of the
State of Texas, wherein certain types of expenditures are not allowable or limited as to
reimbursement. Negative amounts shown on the schedule represent adjustments or credits
made in the normal course of business to amounts reported as expenditures in prior years.
Grantor and pass-through grantor identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedules of expenditures of federal and state awards (the “Schedules”)
include the federal and state award activity of the City of Waco, Texas (the “City”) under
programs of federal and state governments for the year ended September 30, 2023. The
information in these Schedules is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”), and Texas
Grant Management Standards of the State of Texas. Because the Schedules present only a
selected portion of the operations of the City, they are not intended to and do not present
the financial position, changes in net position, or cash flows of the City.
Title: Federal Loan Program
Accounting Policies: Expenditures reported in the accompanying Schedules are reported on the accrual basis of
accounting. Such expenditures are recognized following the cost principles contained in
Uniform Guidance, and “frequently asked questions” (“FAQs”) and other guidance issued
by the U.S. Department of the Treasury and Texas Grant Management Standards of the
State of Texas, wherein certain types of expenditures are not allowable or limited as to
reimbursement. Negative amounts shown on the schedule represent adjustments or credits
made in the normal course of business to amounts reported as expenditures in prior years.
Grantor and pass-through grantor identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
The federal loan program listed as non-cash assistance on the accompanying schedule of
federal awards is administered directly by the City, and balances and transactions relating
to this program are included in the City’s basic financial statements. Loans outstanding at
the beginning of the year and loans made during the year are included in the federal
expenditures presented in the Schedules. The balance of loans outstanding at
September 30, 2023 consists of the following:
Outstanding
Balance at
CFDA Number Program Name September 30, 2023
14.239 HOME Investment Partnership Program $ 2,219,718